The company spent most of the 1950s and 1960s working to develop its motor sports programs, with some success. In 1964 the company struck on the model that would form the core of its passenger vehicle line for the next four decades, the 911. With its success the company broke into the public consciousness.
In the 1970s, the company built several race cars that would eventually become legends, dominating Le Mans in 1970 and 1971 and earning reputations as some of the finest and fastest vehicles ever built, including many variants of the famous 917.
Fans of the brand as it exists today would not recognize the Porsche of twenty years ago, however. Embroiled in financial difficulties, Porsche spent most of the 1980s in search of the right leadership to help bring the company out of its tail-spin. Finally Wendelin Wiedeking took the helm in 1992 and began a series of programs to cut the fat and return the company to a leaner, more profitable model. His work kept the company from being taken over by outside buyers while it was weak, and within three years Porsche was back to profitability.
Since then Porsche has developed some incredibly successful models, including the Boxster and more recently the Cayman coupe. Other models, like the Cayenne and forthcoming Panamera, have been controversial for brand purists, but the Cayenne has contributed hugely to Porsche's bottom line and the introduction of the Panamera will effectively move the company into full-line manufacturer status.
The turnaround at Porsche could hardly be more complete, with the company far from fearing a hostile take-over, and actually in the process of purchasing a controlling interest in Volkswagen. The move is no doubt calculated to help the company meet the European Union-mandated CO2 emissions targets that it will not be able to meet on its own.
Already Porsche is the largest shareholder in Volkswagen, and it plans to increase its holding to more than 50% through 2008. Its ongoing battle with a blocking minority shareholder - the German state of Lower Saxony - and even VW itself has been widely publicized, but the company sees the union as the future of its development, and will therefore move forward with the plan.
Porsche 60th Anniversary
Reader Comments
Mon Jun 2 2008 1:58 PM
CarFanaticsUnleashed says
My hat is tipped to Porsche...
What a 60 years it has been for the automotive industry!
They have, indeed changed it greatly for the better.
Congratulations!
Mon Jun 2 2008 2:45 PM
James says
Dear Porsche:
I'm not a fan of your 911-esque styling, definitely not a fan of heresies like the Cayenne, but you survived the 914, so this too shall pass. Better, you managed to remain independent, and now are successful enough to buy up a larger company.
Once upon a time I did think of the 928S4 as my dream car, and it's not too late to spin a true replacement off the Panamera--complete with headlights facing the sky--hopefully made completely out of aluminum to lose the sedan's fat.
Congrats on 60 fun-filled years.
Mon Jun 2 2008 7:49 PM
HECTOR says
Our lives would be a little less meaningful without Porsches in them. There's a sense of... ocassion when you're in a Porsche, though I think James will agree with me that sense of ocassion is missing from the Cayenne (and I feel it will be missing in the Panamera too).
I look forwward to seeing Porsche's 100th birthday and still be able to recognize the 911. Hell, I look forward to celebrating this momentous ocassion (which will be 3 days short of my 74th birthday) by driving the ion engine powered GT8 around the Nurburgring.
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